Queensland Consolidated Acts

DUTIES ACT 2001 - SECT 66

(1) If, because of the creation of a trust of dutiable property, a person acquires a trust interest in the property, transfer duty is not imposed on the acquisition if--

(a) transfer duty has been paid for the dutiable transaction that is the creation of the trust of the property; or

(b) the dutiable transaction that is the creation of the trust of the property is exempt from transfer duty.

(2) If, because of the acquisition of dutiable property by a trust, a person acquires a trust interest in the property, transfer duty is not imposed on the acquisition of the trust interest if--

(a) the trustee has paid transfer duty for the acquisition of the property; or

(b) the dutiable transaction that is the acquisition of the property is exempt from transfer duty; or

(c) duty is not imposed on the acquisition of the property by the trustee.

(3) If, because of the termination of a trust of dutiable property, a person surrenders a trust interest in the property, transfer duty is not imposed on the surrender if--

(a) transfer duty has been paid for the dutiable transaction that is the termination of the trust of the property; or

(b) the dutiable transaction that is the termination of the trust of the property is exempt from transfer duty.